This always happens in a booming economy. Right? I guess loaning money to people with no means to pay you back does have consequences. Best economy evah!!! Jobs, jobs, jobs.
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Couldn’t possibly be the prices of cars has risen, could it…
I know maff is hard, but even a dumbass can see from chart one that delinquency percentages are already at 2009 Q3 levels when the financial crisis was in full meltdown mode. The stupid, it burns bright among narrative believers.
Don’t worry, someone will find a cure for your TDS.
Sorry, but there is no cure for your 75 level IQ and inability to think critically. GO TRUMP!!!!
Chart seems to show that as a function of number of loans, defaults are not really higher than 09-10. Or at least that first chart needs more context.
2009-2010 was in the midst of the greatest financial crisis since the 1930s.
Default percentages are now at that level in the midst of a 10 year economic advance.
Why is this so hard to comprehend?
How high will the default rate go when we actually go into recession?
Having just recently purchased a vehicle (the most expensive I have ever purchased–my late mid-life crisis), it did seem that qualifications were quite loose. However, it was a zero percent loan, and me thinks that more underlying the reasoning for the loose qualifications is that(In this case GM) the car companies are struggling still. I’m afraid we are probably deeply into supporting a lost cause.
At $35,000 per vehicle, that’s ONLY 1,714,285 vehicle loans.
Sarc
There is something curious in this chart. There is an inflection point in Q2 of 2014. Wonder what happened then?
Duplicate. Sorry.
That seems like a lot of money to me. Is that a lot of money? I can’t keep up anymore.
Salient point…
No and yes. The Fed can create that much money easily by adding a couple zeros on their terminal even before pinching out their morning shit. Now, to the poor debt slave suckers who voluntarily signed on for that burden to keep up appearances in the neighborhood, yeah they’ll be paying for that plastic car well past it’s value hits zero.
They are not really talking about cars/trucks here, they are talking about 4-wheel I-phones
How come my Pick-up truck’s insurance (all companies I assure you) is almost as much as my truck payment when I only drive about 1,000 miles per year and never caused an accident in 50 years? The car insurance companies are ripping us off big time!!! I’d own a sports car too except I’ll be damned if I’m going to pay another $100 per month to NYC financial rapist for a car sitting in my garage that gets driven only a few miles each year. We need a Revolution against the Elite; our cause would be Just.
So, with their asset-backed securities scam, who holds those asset-backed securities – the ones backed by those delinquent auto loans? I’m not saying it’s pension funds, but I’d expect that nobody was putting their own money into this crap.
https://www.forbes.com/sites/mayrarodriguezvalladares/2019/05/03/u-s-asset-backed-securities-issuance-is-headed-for-a-slowdown/
No shit?
The only surprise is with auto ABSs being up in the first quarter over last year. Weird.
What? Another socialist pussy crying about loan victimization?
WTF are you talking about? Are you really as stupid as your idiotic comment indicates? I really should require an IQ test before allowing retards to comment.